Junior, did your son have a cognitive (IQ) test done as well? I would hesitate to skip a child 2 full years this early in the game unless that half of the equation was equally strong. Even then, I'd probably suggest a more gradual approach, such as Cathy's son has experienced.
We started our son in K at 4.5. He is now up 2 full years and more in his best subject, but no single skip exceeded one year. It's been a very gradual process.
If your school is willing though, it might be worth considering. At a minimum, try for the early K start with subject skips or serious differentiation in the more basic subjects (reading/math). It's unlikely that the single skip alone will be "enough" on its own with scores in the >99.9th range.